July 6, 2017 / 6:12 AM / in 22 days

India Ratings for Indian debt instruments – Jul 6

8 Min Read

    Jul 6 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd
(India Ratings), formerly known as Fitch Ratings India for local debt instruments as of
July 5, 2017.

COMPANY                         INSTRUMENT             RATING        AMOUNT      MOVEMENT
                                                                    (RS.MLN)
------                          ----------             ------       ------       ---------
LONG TERM RATINGS:
-------------------
Fastbuild Blocks Pvt Ltd        FB limits              IND B+           50       Assigned
Fastbuild Blocks Pvt Ltd        Long-TL                IND B+           130      Assigned
Fastbuild Blocks Pvt Ltd        Proposed FB limits*    Provisional IND  30       Assigned
                                                       B+
*The rating is provisional and shall be confirmed upon the sanction
 and execution of the loan documents for the above facilities 
 by FBBPL to the satisfaction of Ind-Ra.
 
India Standard Loan Trust XIVII Liquidity facility     Provisional IND  10.24    Assigned
                                (LF)*                  AAA(SO)
*The final ratings are contingent upon the receipt of final documents conforming 
to the information already received by Ind-Ra.
India Standard Loan Trust XIVII Series A pass-through  Provisional IND  1024.2   Assigned
                                certificates (PTCs)*   AAA(SO)
*The final ratings are contingent upon the receipt of final documents conforming 
to the information already received by Ind-Ra.
India Standard Loan Trust XIVII Second loss credit     Provisional IND  51.21    Assigned
                                facility (SLCF)*       BBB(SO)
*The final ratings are contingent upon the receipt of final documents conforming 
to the information already received by Ind-Ra.
India Standard Loan Trust       Liquidity facility (LF)Provisional IND  14.91    Assigned
XIVIII                                                 AAA(SO)
India Standard Loan Trust       Series A pass-through  Provisional IND  1491.1   Assigned
XIVIII                          certificates (PTCs)    AAA(SO)
India Standard Loan Trust       Second loss credit     Provisional IND  92.45    Assigned
XIVIII                          facility               BBB(SO)
Indian Renewable Energy         Non-FB facility        IND AA+(SO)      996.2    Assigned
Development Agency Ltd
Kosamattam Finance Ltd          NCDs                   IND BBB-         2.2      Assigned
Malbros International (P) Ltd   FB limits                               270      Withdrawn
Malbros International (P) Ltd   Non-FBL                                 19.3     Withdrawn
Malbros International (P) Ltd   TL                                      102.8    Withdrawn
NKC Projects Pvt Ltd            FB WC                  IND BBB- /IND A3 520      Affirmed
NKC Projects Pvt Ltd            Non-FB WC              IND BBB- /IND A3 2910     Affirmed
NKC Projects Pvt Ltd            Proposed FB WC*        Provisional IND  5        Affirmed
                                                       BBB-
                                                       /Provisional IND A3
* The rating is provisional and shall be confirmed upon the sanction 
 and execution of loan documents for the above facilities
 by NKC to the satisfaction of Ind-Ra. 
 
NKC Projects Pvt Ltd            Proposed non-FB WC*    Provisional IND  565      Affirmed
                                                       BBB-
                                                       /Provisional IND A3
* The rating is provisional and shall be confirmed upon the sanction 
 and execution of loan documents for the above facilities
 by NKC to the satisfaction of Ind-Ra. 
 
North End Foods Marketing Pvt   FB WC limit                             900      Withdrawn
Ltd
Rising Hotel Ltd                TL                     IND BB-          261.4    Assigned
Rising Hotel Ltd                Proposed FB WC limits* Provisional IND  40       Assigned
                                                       BB- /Provisional
                                                       IND A4+
*The ratings are provisional and shall be confirmed upon the sanction and
 execution of the loan documents for the above facilities
 by RHL to the satisfaction of Ind-Ra.
 
Sansar Trust June 2017 II       Second loss credit     Provisional IND  125.2    Assigned
                                facility (SLCF)*       A-(SO)
*The final ratings are contingent upon the receipt of final documents 
conforming to information already received. The new and used passenger 
vehicle and commercial vehicle loan pool to be assigned to the trust 
has been originated by Shriram Transport Finance Co. Ltd. 
(STFCL; the originator or seller; ‘IND AA+’/Stable). 
Sansar Trust June 2017 II       Pass-through           Provisional IND  2504.6   Assigned
                                certificates           AAA(SO)
                                (PTCs)-Series A*
*The final ratings are contingent upon the receipt of final documents 
conforming to information already received. The new and used passenger 
vehicle and commercial vehicle loan pool to be assigned to the trust 
has been originated by Shriram Transport Finance Co. Ltd. 
(STFCL; the originator or seller; ‘IND AA+’/Stable). 
Sansar Trust March 2017 VII     Series A pass-through  IND AA+(SO)      2003.8   Assigned
                                certificates (PTCs)

Sansar Trust March 2017 VII     Second loss credit     IND BBB(SO)      100.2    Assigned
                                facility (SLCF)
-----------------------------------------------------------------------------------------------
Note:- All Indian National-scale ratings previously assigned by Fitch have been transferred to
India Ratings & Research Private Ltd (India Ratings), which is a wholly owned subsidiary of the
Fitch Group. The withdrawn criteria are now available on India Ratings' website at
www.indiaratings.co.in

$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

INDIA RATINGS may apply + or - signs for ratings to reflect a comparative standing within the
category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures; RWN- Rating
Watch Negative;
RWN- Rating Watch Evolve.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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